Judgment Against Property For Sale In Michigan

State:
Multi-State
Control #:
US-0025LTR
Format:
Word; 
Rich Text
Instant download

Description

The Judgment Against Property for Sale in Michigan is a crucial legal document that establishes a lien on real property owned by the individuals named in the judgment. This form is essential for attorneys and legal professionals involved in collections and real estate law, providing a method to enforce judgments against debtors. The document entails clear filling and editing instructions, including the necessary information about the judgment, such as dates, names, and location specifics. The layout is straightforward, ensuring that users can easily input relevant details without confusion. This form is particularly useful for attorneys, paralegals, and legal assistants managing cases where a judgment needs to be recorded in different counties, ensuring comprehensive tracking of debtors' assets. Its utility extends to partners and owners seeking to protect their interests by officially recording debts against properties. The language is accessible, avoiding complex legal jargon, which makes it beneficial for users with varying levels of legal experience. Overall, this document serves as a vital tool in enforcing judgments and securing the rights of creditors in Michigan.

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FAQ

Judgements can become a first lien against a property. Lenders generally want to be first lien when it comes to mortgages. So yes, it will be deal breaker for most mortgage companies. I've seen mortgages get denied because of a $6000 judgement.

A judgment creditor can file a lien with the court 22 days after the judgment is entered against the debtor, provided that the debtor has not appealed or moved to set the judgment aside. The lien is then sent to the register of deeds for recording in the county where the debtor lives.

2809. (1) Unless subsection (2) or (3) applies, a judgment lien expires 5 years after the date it is recorded. (2) Unless subsection (3) applies, if a judgment lien is rerecorded under subsection (4), the judgment lien expires 5 years after the date it is rerecorded.

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Judgment Against Property For Sale In Michigan